DTN Early Word Opening Livestock 12/15 05:48
15 Dec 2017
DTN Early Word Opening Livestock 12/15 05:48 Cattle Futures Staged for Mixed Opening Live and feeder contracts should open on a mixed basis as players position ahead of cash news. Lean hog issues are likely to begin with uneven prices action tied to a combination of follow-through buying and late week profit-taking. By John Harrington DTN Livestock Analyst Cattle: Cash Steady Futures Mixed Live Equiv $132.87 - .99* Hogs: Cash Steady Futures Mixed Lean Equiv $82.58 + .80** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The cash cattle market has entered the eleventh hour with no business yet on the books. Look for moderate trade volume to develop before buyers break for the weekend, but possibly not until late this afternoon. Opening bids should start out around $115 to $116 live and $186 dressed. Asking prices should be restated around $119 to $120 in the South and $190-plus in the North. Live and feeder futures seem set to open on a mixed basis as specs and commercials jockey ahead of the development of cash news.